Backed by elevated capital spending, Alliance Global Group Inc. (AGI), led by businessman Andrew Tan, is banking on its sustainable offerings to sustain growth this year.

“Our relentless pursuit of growth is also matched by our unwavering commitment to sustainability. We firmly believe that by harmonizing profitability with responsibility, we can pave the way for a brighter, more sustainable corporate landscape,” AGI president and chief executive officer Kevin Tan said during the conglomerate’s annual stockholders’ meeting on Thursday.

For this year, AGI has allocated a capital expenditure of P75 billion, representing a 19 percent increase from its actual expenditure of P63 billion in 2023.

The budget also reflects an eight-year high since the P77-billion capital investments in 2016.

The bulk of the capital spending or approximately P55 billion was allocated to Megaworld, which plans to expand its real estate portfolio by launching new developments, primarily outside of Metro Manila, to reach 35 townships by the end of the year.

The expansion aims to increase the combined gross leasable space for its office and mall developments across the country to 3 million square meters by 2030, particularly in Pampanga, Bulacan, Bacolod, Iloilo and Davao.

Another P10 billion will be utilized by Travellers International for ongoing expansion projects within its Newport World Resorts complex in Pasay City.

Meanwhile, a substantial amount was dedicated to the development of the commercial area in Westside City, including the construction of the Grand Opera House, theaters and cinemas.

Emperador, on the other hand, will invest P6.5 billion in the ongoing expansion of its whisky operations under Whyte and Mackay to double the production capacity of the Dalmore Distillery by the end of the year.

Distillery upgrade set

Additionally, it is expanding the maturation complex of the Invergordon Distillery, doubling its footprint to 92 hectares, and building additional warehouses for whisky aging.

Beyond capacity expansion, the capital expenditure will also partially fund Whyte and Mackay’s sustainability goal of achieving carbon neutrality by 2030.